Should I look for foreclosures?

I was asked last evening if I thought it was a good idea to look for foreclosures in this market. I have to say that in my experience it is certainly possible to help out a distressed homeowner facing foreclosure if you know what to do. And it is certainly possible to buy a foreclosed home at auction if you know what to do. 

But the process is complex and you'll have to be patient.


Imagine trying to rescue a struggling pet in shark-infested water. Those shark-investors have been there before. They're competing with one another and they know what they're doing. If you think this experience is like snorkeling with the seals, you're wrong.

You need protection and expertise. Otherwise you're incurring great risks.